Group of Seven leaders will begin a summit in Italy this Thursday and are expected to announce a plan to set up a fund for Ukraine using interest generated by frozen Russian assets, Nikkei Asia reported on Tuesday.
Earlier reports said the Biden administration was pushing for the EU and other G7 nations to agree to a plan to provide Ukraine with a $50 billion loan that would be paid back over time using income made by Russia’s frozen Central Bank assets.
The US and its allies have frozen approximately $280 billion in Russian Central Bank funds, the vast majority of which are held in Europe. President Biden recently signed a law giving him the power to take the $5 billion in Russian assets held in the US, but the EU doesn’t want to steal all of the Russian assets it’s holding.
Instead, the EU has agreed to a plan to use the interest to provide about $3 billion per year, which Ukraine has said isn’t enough. The US proposal to provide Ukraine with a big loan that would be paid back over time using the profits is seen as a compromise between the two plans.
Whether the G7 nations use all of the Russian assets or just the interest, the move will mark a significant escalation in the economic war against Moscow. Russia has vowed to respond to either plan and is taking steps to prepare to seize US assets as a retaliatory measure.
This act will only accelerate De-Dollarization and….
De-dollarization brings peace
Have they been meeting a lot? If so, do they think that's helping?
Little Lyndsey Graham coming right out and talking about extracting any wealth of Ukraine by advocating stealing their precious mineral resources, as a purpose of the war.
So they will rob Russia as a financial resource to swindle Ukraine.
They are not even hiding their organized criminality anymore.
Aaron Maté @aaronimate
Ukraine is so desperate for funds that it's going to sell off public assets to the highest bidder aka vulture. This adds a new side-benefit for the Ukraine proxy war's neocon sponsors: forcing a decimated country to accept privatization schemes to Western investors' benefit. See also: the Bush admin in Iraq.
Cash-Strapped Ukraine Plans to Sell State Assets to Help Fund War Effort
I believe that institution already has a name: the IMF.
BlackRock?
Bingo!
Blackrock and JP Morgan will be there to catch the mother lode.
Blackrock beat him to it. There articles about Blackrock's plans when the war finally ends. The American Conservative: https://www.theamericanconservative.com/blackrock-plots-to-buy-ukraine/
Those assets were taken illegally. Russia's economy is going well, thank you. The U.S. is mired in multi-trillion dollar debt. Estimates are between 29 and 36 trillion. And climbing with the continuing wars.
That would be the Group of Seven Western Criminals, would it not?
So the bankers are going to use the interest from the stolen funds to pay themselves the interest on the loan that they're going to give Ukraine to pay the interest on the loans that they previously gave Ukraine. Yep, that should help the war effort immensely!